Green Tea Market

Green Tea Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028FSegmented By Product Type (Flavored, Unflavored), By Form (Tea Bags, Powder, Loose Leaves), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Departmental Stores, Online, Others (Direct Sales, etc.)), By Region, Competition

Global green tea market is witnessing robust growth, owing to the rising demand for healthy drinks among health-conscious consumers due to the rising awareness of health-related issues like obesity and high blood pressure, which will grow the market of green tea during the forecast period globally. Consumers are becoming more concerned with living a healthy lifestyle, thereby increasing the awareness of green tea's health advantages. Green tea has health benefits which may include improved brain function, fat loss, and lowered risk of heart diseases. Therefore, the above-mentioned factors are driving the demand for the green tea market across the globe during the forecast period.

Green tea is a type of tea made from Camellia sinensis leaves and buds. Green tea is one of the least processed types of tea as it is produced from unoxidized leaves. This is why it has the highest concentration of protective polyphenols and antioxidants. Green tea was first produced in China, and since then, other East Asian countries have started to produce and manufacture it. Green tea is beneficial for treating a variety of illnesses, including depression, and various types of disorders, such as the cellular breakdown in the lungs, malignant liver development, colon malignancy, stomach malignancy, and many more. Primarily, three varieties of green tea are available for consumption i.e., tea bags, powder, and loose leaves. Green tea leaves powder is also known as Matcha, which is traditionally consumed in East Asia.

According to the World Green Tea Association, the annual global consumption of green tea is about 600,000 tonnes. It is about 1/5 of the total consumption of all kinds of tea. Mainly green tea is consumed in East Asia countries. The largest consumer of green tea is from China. Approximately 50% of the world's green tea is consumed by people in China. The second-largest green tea-consuming country is Japan. Japan consumes over 80,000 tonnes of green tea annually. Each year, 30,000 tonnes of green tea are consumed in Indonesia and 20,000 tonnes in Vietnam. Thus, the demand for green tea will expand during the forecast period across the globe.

Rising Awareness of Health Benefits of Green Tea Aids the Market Growth

Drinking green tea has many health benefits due to the presence of caffeine and the antioxidant flavonoid catechin, which accelerates metabolism. Both caffeine and catechin stimulate the body to consume more energy, and catechin may specifically help with fat breakdown. Additionally, the antioxidant in green tea can cleanse the body of accumulated toxins and improve health. Several clinical research demonstrates that the use of antioxidants and flavonoids improves cardiovascular health, physical and mental stress response, and many other bodily functions. Green tea consumption lowers the risk of developing cancer and diabetes, promotes weight reduction, strengthens the body's immunity, improves concentration, and reduces stress. Thus, the various health benefits associated with drinking green tea are the major factors driving the market revenue growth globally, during the forecast period.

Expansion of Flavored Green Tea Boosts the Market Growth

The rise in demand can be due to consumers' increasing preference for flavored beverages to improve their taste. To reach out to a wider range of consumers, many companies have launched new green tea drinks in a variety of flavors, such as Lemon & Ginger, Kashmiri Kahwa, Cloves, Aloe Vera, etc. Due to their alluring flavors and nutritional qualities, flavored green tea is becoming more popular. The widespread availability of various green tea flavors and the rising desire for flavored beverages especially among young consumers are the main drivers of this expansion. Therefore, the gaining popularity of flavored green tea is driving the growth of the green tea market during the forecast period, globally.

Increasing Demand of Functional Beverages Boost the Market Growth

In the never-ending search for better health, consumers, particularly millennials and Gen Z, are increasingly opting for functional beverages that offer nutritional advantages. The demand for functional beverages among consumers has significantly increased as a result of the growing trend of healthy hydration and nutrition on the go. High levels of antioxidants found in green tea reduce cell and tissue aging and enhance healthy processes in the body. The market is expanding due to the rising demand for beverages that are nutrient-rich to lower the chance of developing certain health issues. The growth of the green tea market is also supported by increased research and innovation efforts to create new tea varieties, such as those that are naturally flavored, organic, pure, and ecologically friendly. Therefore, the demand for the green tea industry has seen rapid growth with the rising demand for green tea as a functional beverage among consumers, globally, during the forecast period.

Market Segmentation

The global green tea market is segmented based on product type, form, and distribution channel. The market is divided into flavored and unflavored based on product type. Based on form, the market is segmented into tea bags, powder, and loose leaves. Based on distribution channels, the market is fragmented into supermarkets/hypermarkets, convenience stores, departmental stores, online stores, and others (direct sales, distributor & dealer sales etc.). The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

Company Profiles

Associated British Foods plc, The Republic of Tea, Inc., Unilever plc, Tata Consumer Products Limited, The Bigelow Tea Company, East West Tea Company, LLC, SHANGRI-LA TEA COMPANY INC., Numi, Inc., Keurig Dr Pepper Inc, Teavana Corporation are among the major market players in the global platform that lead the market growth of the global green tea market.

Report Scope:

In this report, the global green tea market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Global Green Tea Market, By Product Type:
• Flavored
• Unflavored
• Global Green Tea Market, By Form:
• Tea Bags
• Powder
• Loose Leaves
• Global Green Tea Market, By Distribution Channel:
• Supermarkets/Hypermarkets
• Convenience Stores
• Departmental Stores
• Online
• Others
• Global Green Tea Market, By Region:
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• North America
• United States
• Canada
• Mexico
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• Saudi Arabia
• UAE
• South Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global green tea market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

global smart swim goggles market has the potential to grow in the forecast period. The market can be driven by technological advancement, increasing spendings in AR augmented products, and increasing number of swimmers along with the growing number of swimming pools across the globe. For instance, The Pool & Hot Tub Alliance estimates that there are 10.7 million swimming pools in the United States. There are 10.4 million residential pools and 309,000 public ones. In total, there is roughly one pool for every 31 citizens of the nation. And every year, 91 million Americans over the age of 16 swim in oceans, lakes, and rivers, making up nearly 31% of the population.

Smart swim goggles resemble conventional swim goggles, but they have a number of advanced functions and sensors hidden within. Swimming data like lap count, number of strokes, pace, and total swim time can be tracked and shown. This enables the user to instantly modify and enhance swimming.

Technology for smart swim goggles with a display is relatively new. They can monitor the swimmer's progress while they swim, showing them their statistics and all the information, they require right in front of them. With this information readily available, one can keep an eye on the numbers and make immediate adjustments to their training.

The average cost for a pair of smart swimming goggles with a timer, heads-up display, and access to an app is between USD200 and USD300. But with one of the top brands, customers must pay monthly or yearly subscription fees in order to access all of their products. For example, the Finis smart swim goggle kits, which come with the goggles and access to the app, cost USD199.

Innovative Features are Helping to Expand the Market

Since the demand for smart swim goggles is rising, companies are coming up with innovative technologies in smart swim goggles to expand their consumer base. For instance, Workout Builder, Form's newest feature launched in 2022, enables users to tailor their workouts and program to their specific needs. Complete customization of the workout regimen is possible with Workout Builder. Customers may easily enter their workout information and fine-tune the program using subgroups like distance, stroke, effort level, drills, and equipment. Customers can also modify more than 1,000 programs created by coaches and currently included in the app by using Workout Builder.

High Subscription Cost May Hinder the Market Growth

One of the major challenges in the market could be high subscription cost. Many companies charge a fee from the consumers after a period of time to use the application that is connected to the goggles. For instance, Form charges USD228 for a subscription that lasts a full year and gives users access to their guided workouts, training schedules, video tutorials, swimming app, and FORM swim community, which allows users to communicate with other swimmers online. They also give customers the choice of signing up on a monthly basis for USD15 with a minimum commitment of six months. Since the basic fee is quite high it may act as a hinderance to the market growth.

Technological Advancements to Boost the Market Growth

The key component driving the market expansion is the rise in new product launches and technological developments that result in improved product offerings. For instance, GUANGLI, announced the release of Holoswim 2 - AR Smart Swim Goggles in 2022. Holoswim is an AR-enhanced goggle for swimmers of all skill levels that is designed for smart swimming. Holoswim 2's built-in smart sensors and advanced algorithms precisely detect the live metrics of all stroke types and display real-time data on the goggles whether the consumer is swimming for fitness, setting goals, or simply counting laps. Users can observe their progress while they swim due to the clear and uncomplicated way that the AR data is shown on the transparent OLED holographic display. The parameters that Holoswim 2 tracks, shows, and records include time, distance, pace, calories burned, heart rate, and more. Following a swim, data from the goggle’s syncs to the Holoswim App for review and analysis, including SWOLF (a score that measures the swimming efficiency) and pace per 100m, in order to enhance performance and share with friends.

Market Segmentation

The Smart Swim Goggles market is segmented based on region, and competitional landscape. Based on regional market segmentation, the market is divided among North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

Company Profiles

Form Athletica Inc., Finis, Inc., and Guangli Tech. are among the major market players in the global smart swim goggles market.

Report Scope:

In this report, the Global Smart Swim Goggles market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Smart Swim Goggles Market, By Region:
• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Smart Swim Goggles market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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